The gold-silver ratio has surged to a three-year high, reflecting the contrasting performance of these two precious metals. While gold prices continue to climb, silver has shown signs of weakness amid global economic uncertainties.

Gold and Silver Performance in 2025

Both gold and silver have posted strong year-to-date (YTD) gains, but their recent movements indicate diverging trends.

• Gold prices have surged 18% YTD, reaching an all-time high of ₹91,696 per 10 grams on April 3.

• Silver prices have risen 11% YTD, but saw a 3% decline on April 3 to ₹97,080 per kilogram on MCX.

The latest round of reciprocal tariffs announced by US President Donald Trump has fueled safe-haven demand for gold, while silver—heavily tied to industrial applications—faced selling pressure.

Gold-Silver Ratio at a Three-Year High

The gold-silver ratio measures how many ounces of silver are needed to buy one ounce of gold. A higher ratio indicates that gold is outperforming silver.

• The ratio is currently at a three-year high and could test the 100–105 range, according to market trends.

• Historically, an increasing ratio has reflected investor preference for gold in times of economic uncertainty.

Factors Impacting Silver Prices

Silver functions as both a precious metal and an industrial commodity, making it sensitive to economic conditions.

• Industrial demand for silver has been rising, particularly in solar panels, electronics, and manufacturing.

• However, ongoing trade war concerns and potential economic slowdown have raised doubts about future silver demand.

• Unlike gold, which is mainly an investment asset, silver’s industrial applications make it more vulnerable to global economic shifts.

Market Sentiment and Future Outlook

The gold-silver ratio’s rise suggests a shift in market sentiment, with investors closely watching economic developments.

• Gold continues to benefit from safe-haven demand, central bank purchases, and ETF inflows.

• Silver prices remain linked to industrial growth, which may face challenges due to trade disruptions.

With the gold-silver ratio at multi-year highs, market participants are closely monitoring the trends in bullion and industrial metals markets.

The Current active IPO are Infonative Solutions Limited,Spinaroo Commercial Limited.

The Closed IPOs are  Retaggio Industries Limited.